Future of corporate capitalism

Journal Article · Sat Jan 01 04:00:00 EST 1977 · Am. Gas Assoc. Mon.; (United States)

OSTI ID:5849971

Kristol, I

To help counter the new populist movement (fairly represented by Ralph Nader) toward overregulation of the private sector, privately owned public utilities and energy companies must publicly defend their institutions, advocates I. Kristol, editor of The Public Interest. To be accepted by the public, this defense must assume an adversary stance that includes a willingness to fight indefinitely - not to engage in conventional institutional approaches that merely (1) buy media advertising to merely assure the public that their corporation is concerned and involved, (2) set out to give the public an education in economics, or (3) undertake symbolic action in such projects as saving the inner city. All of the above may show that such companies are compassionate and concerned but will not give them a good reputation or change the climate of opinion with regard to business or the large corporation. Before politicians will accede to a reasonable request, they now have to be assured that it is acceptable to public opinion. Some strategies are especially useful for utilities. Stockholder-owned utilities are in an especially strong position to fight but have usually fought weakly, if at all. Even if the utility were to be municipalized or nationalized, the stockholders and bondholders are likely to get fairer treatment in the courts for compensation than historically under regultion. Utilities can have a lot of leverage on politicians and public opinion if they would mobilize their stockholder, itemize every government tax (including real-estate taxes) on customers' bills, and bridge the academic-business-world gulf by including college professors (not just college presidents) on corporate boards.

• OSTI ID: 5849971
• Journal Information: Am. Gas Assoc. Mon.; (United States), Journal Name: Am. Gas Assoc. Mon.; (United States) Vol. 59; ISSN AGAMA
• Country of Publication: United States
• Language: English

Related Subjects

32 ENERGY CONSERVATION, CONSUMPTION, AND UTILIZATION
320603* -- Energy Conservation
Consumption
& Utilization-- Municipalities & Community Systems-- Public Utilities-- (1980-)
ADVERSARIES
CAPITAL
CONSUMER PROTECTION
INSTITUTIONAL FACTORS
PUBLIC RELATIONS
PUBLIC UTILITIES
REGULATIONS
SOCIO-ECONOMIC FACTORS